Apple Inc. $AAPL Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors reduced its Apple stake by 1.7% in the first quarter, selling 45,426 shares and ending with 2,641,243 shares valued at about $670.3 million.
• Apple reported stronger-than-expected quarterly results, with EPS of $2.01 versus $1.95 expected and revenue of $111.18 billion, up 16.6% year over year.
• The company also raised its quarterly dividend to $0.27 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $314.85.

Fort Washington Investment Advisors Inc. OH trimmed its holdings in Apple Inc. (NASDAQ:AAPL - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,641,243 shares of the iPhone maker's stock after selling 45,426 shares during the quarter. Apple makes up about 3.7% of Fort Washington Investment Advisors Inc. OH's holdings, making the stock its 4th biggest position. Fort Washington Investment Advisors Inc. OH's holdings in Apple were worth $670,321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pictet Asset Management Holding SA grew its position in Apple by 2.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 9,059,616 shares of the iPhone maker's stock worth $2,298,860,000 after purchasing an additional 224,720 shares during the last quarter. Summerhill Capital Management lnc. acquired a new stake in shares of Apple during the first quarter worth about $376,000. Traveka Wealth LLC boosted its stake in shares of Apple by 2.8% during the first quarter. Traveka Wealth LLC now owns 25,466 shares of the iPhone maker's stock worth $6,463,000 after buying an additional 695 shares during the period. Realta Investment Advisors grew its holdings in shares of Apple by 3.0% during the first quarter. Realta Investment Advisors now owns 80,611 shares of the iPhone maker's stock worth $20,458,000 after buying an additional 2,368 shares during the last quarter. Finally, Jim Saulnier & Associates LLC increased its position in Apple by 5.5% in the 1st quarter. Jim Saulnier & Associates LLC now owns 5,999 shares of the iPhone maker's stock valued at $1,523,000 after acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 67.73% of the company's stock.

Apple Stock Performance

Shares of AAPL opened at $308.63 on Monday. Apple Inc. has a twelve month low of $201.50 and a twelve month high of $317.40. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $4.53 trillion, a P/E ratio of 37.32, a PEG ratio of 2.68 and a beta of 1.10. The firm's 50-day moving average is $295.25 and its two-hundred day moving average is $273.84.

Apple (NASDAQ:AAPL - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The iPhone maker reported $2.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.06. The company had revenue of $111.18 billion during the quarter, compared to the consensus estimate of $109.46 billion. Apple had a net margin of 27.15% and a return on equity of 146.69%. The company's revenue for the quarter was up 16.6% on a year-over-year basis. During the same period last year, the firm earned $1.65 EPS. On average, research analysts predict that Apple Inc. will post 8.74 earnings per share for the current fiscal year.

Apple Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.27 per share. This is a boost from Apple's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Apple's payout ratio is presently 13.06%.

Apple News Roundup

Here are the key news stories impacting Apple this week:

• Positive Sentiment: Reports that Apple plans at least five new iPhone models through early 2027, including a stronger foldable iPhone push, have reinforced expectations for a fresh product cycle and a longer growth runway. Apple plans five new iPhones through 2027, eyes Chinese-made chips amid foldable push, reports say
• Positive Sentiment: Apple also appears to be benefiting from investor optimism that it can navigate the memory-chip shortage and secure supply, including possible deals with lower-cost Chinese chipmakers, which could help protect future production. Apple negotiates with blacklisted Chinese chipmakers amid AI-driven memory crunch
• Positive Sentiment: Several market commentary pieces said Apple is holding up better than the broader tech sector, with traders viewing recent weakness as a buying opportunity and analysts still pointing to solid upside potential. Apple’s Aggressive Price Hikes Raise Eyebrows As Wall Street Links AI Chip Shortages To Inflation Pressure
• Neutral Sentiment: Apple’s recent price hikes on Macs and iPads are being interpreted two ways: as a sign of inflationary component costs, but also as a margin-protection move that may not hurt demand as much as feared. Jim Cramer’s Latest Thought on Apple Inc. (AAPL)
• Neutral Sentiment: Apple’s insider-selling activity and mixed institutional positioning are adding caution, but they are not the main driver of the stock today. Apple Stock (AAPL) Opinions on Recent Price Hikes and Analyst Views
• Negative Sentiment: Some coverage continues to flag pressure on Apple’s margins and demand if higher component costs force more price increases, which could weigh on sentiment over time. Is Apple stock in trouble? Rising costs threaten margins, demand

Insider Buying and Selling at Apple

In other Apple news, CFO Kevan Parekh sold 1,534 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $275.00, for a total transaction of $421,850.00. Following the sale, the chief financial officer directly owned 13,366 shares in the company, valued at approximately $3,675,650. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ben Borders sold 1,274 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $290.00, for a total value of $369,460.00. Following the completion of the sale, the insider directly owned 38,713 shares in the company, valued at $11,226,770. This trade represents a 3.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,924 shares of company stock valued at $825,546. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

AAPL has been the subject of a number of recent research reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Apple in a research report on Monday, June 8th. Robert W. Baird set a $310.00 target price on Apple in a report on Friday, May 1st. Morgan Stanley restated an "overweight" rating on shares of Apple in a research note on Friday, June 26th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $310.00 price target (up from $300.00) on shares of Apple in a report on Friday, May 1st. Finally, UBS Group reissued a "buy" rating on shares of Apple in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $314.85.

Apple Company Profile

Apple Inc NASDAQ: AAPL is a multinational technology company headquartered in Cupertino, California, founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company designs, develops and sells consumer electronics, software and services. Over its history Apple has evolved from personal computers to a broad portfolio that spans mobile devices, wearables, home entertainment and digital services.

Apple's principal hardware products include the iPhone smartphone, iPad tablet, Mac personal computers, Apple Watch wearable devices and a range of accessories such as AirPods and HomePod.

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